Benchmark reiterates $570 target on Strategy after STRC selloff
22 Jun 2026 · 13:12 UTC · The Block · Original source
Summary
Benchmark stated that STRC's decline below $83 was due to a leverage flush rather than a depeg, maintaining its $570 target on Strategy.
Why it matters
Benchmark's commentary on STRC suggests that the drop was a result of leverage issues rather than a fundamental devaluation. This could instill confidence among investors in the stock, but the connection to cryptocurrency markets is tenuous. The overall sentiment might reflect cautious optimism, but significant volatility is not anticipated in the short term, especially for Bitcoin and altcoins, which are influenced by broader market trends and sentiments.
Expected impact
The reiteration of the $570 target on Strategy following the STRC selloff indicates a potential for recovery in the asset's price. However, the immediate impact on the broader cryptocurrency market is expected to be limited, as the news primarily pertains to a specific stock rather than a direct cryptocurrency event.